State-run Dalian Shipbuilding Industry Co. (DSIC) is to spend five years building a new gigantic shipbuilding base on Changxing Island off the port city of Dalian.
The new yard will boast four big docks. An offshore structure plant, a repair yard and a heavy machinery factory will also be built at the base. According to DSIC this mammoth project costing 40bn yuan will become the largest yard in China stretching over 6m sq m. STX and IMC are both on Changxing Island already.
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Monday, October 27, 2008
OOCL looks to slash capacity
Hong Kong: Orient Overseas Container Line may cut capacity 16 percent.
"There is no doubt we're heading for a very tough market," Chief Financial Officer Ken Cambie told the adding that the cut may be considered only in the "worst-case" scenario. The company is currently in talks with partners in the Grand Alliance on whether to idle ships, Cambie said in Singapore.
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"There is no doubt we're heading for a very tough market," Chief Financial Officer Ken Cambie told the adding that the cut may be considered only in the "worst-case" scenario. The company is currently in talks with partners in the Grand Alliance on whether to idle ships, Cambie said in Singapore.
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Booming growth for Diamond Offshore
Houston: Diamond Offshore Drilling has reported a net income of US$310.7 million for the third quarter of 2008 compared with a net income of US$205.5 million in 2007.
Revenue in the third quarter of 2008 was US$900 million, compared with revenue of US$644.0 million for the third quarter of 2007. Net income for the third quarter of 2008 was adversely impacted by losses of US$25.1 million related to foreign currency forward exchange contracts and a casualty loss of $6.3 million related to damages sustained from Hurricane Ike. For the nine months ended September 30, 2008, the company reported net income of US$1,017.6 million compared with net income of US$681.6 million for the same period in 2007. Revenue for the nine months ended September 30, 2008, was $2.6 billion. The Company also announced that it has signed a two year contract with energy company Total E&P Angola for the fourth generation semi-submersible ‘Ocean Valiant’ that could earn maximum revenue, excluding mobilization fees, totaling approximately US$452 million.
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Revenue in the third quarter of 2008 was US$900 million, compared with revenue of US$644.0 million for the third quarter of 2007. Net income for the third quarter of 2008 was adversely impacted by losses of US$25.1 million related to foreign currency forward exchange contracts and a casualty loss of $6.3 million related to damages sustained from Hurricane Ike. For the nine months ended September 30, 2008, the company reported net income of US$1,017.6 million compared with net income of US$681.6 million for the same period in 2007. Revenue for the nine months ended September 30, 2008, was $2.6 billion. The Company also announced that it has signed a two year contract with energy company Total E&P Angola for the fourth generation semi-submersible ‘Ocean Valiant’ that could earn maximum revenue, excluding mobilization fees, totaling approximately US$452 million.
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MPA leads major oil spill exercise
Singapore: The Maritime and Port Authority of Singapore led a multi-agency joint oil spill exercise on October 17, 2008, to test and demonstrate Singapore’s readiness to respond to oil spills.
Codenamed JOSE 2008, 8,000 tonnes of crude oil from a very large crude carrier was leaked into the sea about 2.8 kilometres from Raffles Lighthouse. The first response craft arrived within 30 minutes. A Hercules aircraft equipped with an aerial spray system, introduced this year to provide a swift and efficient response to large spills, immediately followed. Sprays from dispersant boats and oil containment booms were also deployed around the VLCC as well as further downstream. Captain M Segar, Group Director at MPA, “As the world’s major hub port, it is vital that Singapore remains vigilant at all times. “MPA, together with other agencies and the industry, has drawn up comprehensive contingency plans which are tested via regular, multi-agency exercises to ensure the country’s preparedness to respond to marine incidents. “This year’s exercise demonstrates the close co-ordination of both aircraft and vessel based dispersant spraying systems in the busy waters of the port and Singapore Straits. This further ensures an effective and swift response to oil spill incidents, should prevention fail.
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Codenamed JOSE 2008, 8,000 tonnes of crude oil from a very large crude carrier was leaked into the sea about 2.8 kilometres from Raffles Lighthouse. The first response craft arrived within 30 minutes. A Hercules aircraft equipped with an aerial spray system, introduced this year to provide a swift and efficient response to large spills, immediately followed. Sprays from dispersant boats and oil containment booms were also deployed around the VLCC as well as further downstream. Captain M Segar, Group Director at MPA, “As the world’s major hub port, it is vital that Singapore remains vigilant at all times. “MPA, together with other agencies and the industry, has drawn up comprehensive contingency plans which are tested via regular, multi-agency exercises to ensure the country’s preparedness to respond to marine incidents. “This year’s exercise demonstrates the close co-ordination of both aircraft and vessel based dispersant spraying systems in the busy waters of the port and Singapore Straits. This further ensures an effective and swift response to oil spill incidents, should prevention fail.
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